After his degree in Business Administration from the University of Augsburg, continued by a doctorate at the University of Kiel, Dr. Toralf Haag started his career at Thyssen Handelsunion AG in Düsseldorf in 1994.

From 1997 to 1999 he was Director Finance, M&A and Corporate Development of The Budd Company Detroit (USA), a subsidiary of ThyssenKrupp, until he was appointed as CEO President Stamping & Frame Division of The Budd Company Detroit in 2000. From 2002 to 2005 he was Chief Financial Officer and Member of the Management Board at Norddeutsche Affinerie AG (now Aurubis AG) in Hamburg until he followed an appointment as CFO and Member of the Executive Committee of Lonza Group AG in August 2005.

Since October 2016, he was a member of the Corporate Board of Management of the Voith Group and initially held the position of Chief Financial Officer. In October 2018, Dr. Toralf Haag was appointed Chairman of the Corporate Board of Management of Voith GmbH & Co. KGaA. Dr. Haag was appointed Chairman of the Executive Board of Aurubis AG as of September 1, 2024.